After the opening of Amundi Polska in Poland, Amundi has now decided to set up in Austria with the acquisition on Thursday 23 October of Bawag PSK Invest, the asset management subsidiary of Austrian bank Bawag PSK (1.6 million retail clients, 39,000 professional clients, 2,500 companies).

Amundi scales up its ambition in South Asia by launching a new wholly-owned subsidiary in Bangkok, Amundi Mutual Fund Brokerage Securities (Thailand) Company Limited.

With a presence in Geneva since 2007, Amundi Suisse, a wholly owned subsidiary of Amundi, is dedicated to fund distribution in the Swiss market.

Crédit Agricole will therefore own 80% of Amundi and Société Générale 20%.

By 2016, it aims to become a major player in the Polish asset management market with an objective of EUR 1bn in assets under management and a market share of over 3 %.

This acquisition is a natural step in Amundi’s development following 6 years’ presence in the Malaysian equities market and 4 years on-the-ground experience in the sukuk product offering.

The two companies will focus their cooperation on private debt management, aiming to offer institutional and retail clients high value-added products meeting their need for yield in an environment of low interest rates.

Amundi has received the regulatory approval to open an investment centre in Poland: Amundi Polska TFI S.A.

Amundi is one of the first non-local asset managers to offer an extensive range of funds tailored to local needs without rebate well ahead of implementation in the market.